SINGAPORE: The Housing and Development Board ( HDB) will hold three sales events per year for the first time since 2015 as opposed to four , Build- to-Order ( BTO ) exercises.
In 2024, three volumes of 19, 600 brand-new people housing units will be introduced: February, June, and October.
House buyers can anticipate a larger housing source at each start with three BTO launches as opposed to four. They will be able to choose from a wider selection of apartments and locations thanks to this, HDB announced on Monday ( Jan 8 ).
HDB introduced 22,800 BTO cottages across four income exercises in 2023, or an average of 5,700 per exercise. The average for this year’s three workouts is expected to be 6,533.
Every BTO release will presently give applicants” a higher chance of success in finding a level that meets their finances and needs,” according to HDB. Additionally, this will lessen the degree of overlap between the variety processes and give home buyers more confidence.
According to their needs and preferences, buyers currently apply for apartments through open bookings, BTO sales exercises, and Sale of Balance Flats ( SBF ) exercises. Under BTO activities, the vast majority of apartment customers buy apartments.
The BTO practice in February 2024 may offer about 4, 100BTO flats. These apartments may be located in Bedok, Queenstown, Choa Chu Kang, Hougang, Punggol, and Woodlands. In February, there will also be about 1,500 SBF products available.
As software rates for first-time buyers for all level types continue to mild, there has been a decrease in the number of BTO launches this season.
The middle number of applicants for each product that was open in 2023 was 1.9, a significant decrease from the 3.7 in 2019 prior to the COVID-19 crisis.  ,
According to HDB, “BTO software rates for 2023 were generally lower than current years.”